Moody Aldrich Partners LLC Trims Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Moody Aldrich Partners LLC decreased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 36.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,689 shares of the company’s stock after selling 33,680 shares during the quarter. Moody Aldrich Partners LLC owned 0.10% of Construction Partners worth $5,103,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Clearbridge Investments LLC bought a new stake in Construction Partners in the second quarter worth $20,360,000. Fred Alger Management LLC bought a new position in shares of Construction Partners in the third quarter worth approximately $16,535,000. Artemis Investment Management LLP purchased a new position in shares of Construction Partners in the fourth quarter worth $18,893,000. Segall Bryant & Hamill LLC purchased a new stake in Construction Partners during the 3rd quarter valued at $10,377,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Construction Partners by 47.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock worth $14,478,000 after acquiring an additional 67,150 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Robert W. Baird raised their target price on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James decreased their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and an average price target of $75.40.

Construction Partners Stock Performance

Shares of ROAD stock opened at $78.80 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 59.70, a price-to-earnings-growth ratio of 1.14 and a beta of 0.75. Construction Partners, Inc. has a one year low of $43.24 and a one year high of $103.69. The company’s 50-day moving average is $92.81 and its 200 day moving average is $77.79.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The business had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. During the same period last year, the company posted $0.59 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. Sell-side analysts expect that Construction Partners, Inc. will post 1.95 EPS for the current fiscal year.

Insider Transactions at Construction Partners

In other Construction Partners news, Director Charles E. Owens sold 49,695 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $100.81, for a total value of $5,009,752.95. Following the transaction, the director now directly owns 130,291 shares of the company’s stock, valued at approximately $13,134,635.71. This trade represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Todd Keith Andrews sold 5,489 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the transaction, the chief accounting officer now owns 17,394 shares in the company, valued at $1,597,464.96. This trade represents a 23.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,225 shares of company stock worth $13,904,358 over the last three months. 18.80% of the stock is currently owned by company insiders.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.